Suppose that the current overall unemployment rate is 7.5%. If structural unemployment is 1.5%, frictional unemployment is 3%, and cyclical unemployment is 2%, what is the unemployment rate that is due to seasonal factors?

In economics, ________ are limited but ________ are unlimited

A) wants; resources B) resources; wants C) money; ideas D) ideas; money

Which of the following statements is FALSE?

A) The official absolute poverty level in the United States is far above the average income of many countries in the world. B) In a relative sense, the problem of poverty will always exist. C) An equal distribution of income would eliminate relative poverty. D) An equal distribution of income would eliminate absolute poverty.